SKYU vs. NRGU

Last updated Jun 5, 2026

SKYU (ProShares Ultra Nasdaq Cloud Computing ETF) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds - SKYU tracks the ISE Cloud Computing Index (200%) while NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, SKYU returned 41.23% vs 171.19% for NRGU. At a 0.12 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

SKYU vs. NRGU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKYU achieves a 20.72% return, which is significantly lower than NRGU's 125.94% return.

SKYU

• 1D: 0.53%
• 1M: 27.03%
• YTD: 20.72%
• 6M: 18.01%
• 1Y: 41.23%
• 3Y*: 38.09%
• 5Y*: 2.14%
• 10Y*: —

NRGU

• 1D: -1.47%
• 1M: -6.46%
• YTD: 125.94%
• 6M: 93.16%
• 1Y: 171.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SKYU vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
SKYU ProShares Ultra Nasdaq Cloud Computing ETF	20.72%	-7.55%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	125.94%	-33.00%

Correlation

The correlation between SKYU and NRGU is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.12

The correlation between SKYU and NRGU shifts across timeframes, from -0.01 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

SKYU vs. NRGU - Sectors Allocation Comparison

Sectors	SKYU	NRGU
Technology	51.5%	-
Communication Services	4.7%	-
Industrials	2.5%	-
Consumer Cyclical	2.4%	-
Healthcare	0.3%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SKYU vs. NRGU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SKYU

SKYU Risk / Return Rank: 22
SKYU Sharpe Ratio Rank: 22
SKYU Sortino Ratio Rank: 25
SKYU Omega Ratio Rank: 25
SKYU Calmar Ratio Rank: 20
SKYU Martin Ratio Rank: 18

NRGU

NRGU Risk / Return Rank: 64
NRGU Sharpe Ratio Rank: 72
NRGU Sortino Ratio Rank: 53
NRGU Omega Ratio Rank: 53
NRGU Calmar Ratio Rank: 82
NRGU Martin Ratio Rank: 61

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SKYU vs. NRGU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) and MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SKYU	NRGU	Difference
Sharpe ratio: Return per unit of total volatility	0.74	2.31	-1.57
Sortino ratio: Return per unit of downside risk	1.35	2.55	-1.20
Omega ratio: Gain probability vs. loss probability	1.16	1.32	-0.16
Calmar ratio: Return relative to maximum drawdown	0.82	4.31	-3.49
Martin ratio: Return relative to average drawdown	1.73	10.74	-9.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SKYU vs. NRGU - Sharpe Ratio Comparison

The current SKYU Sharpe Ratio is 0.74, which is lower than the NRGU Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of SKYU and NRGU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SKYU	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.74	2.31	-1.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.43	-0.40

Drawdowns

SKYU vs. NRGU - Drawdown Comparison

The maximum SKYU drawdown since its inception was -83.01%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for SKYU and NRGU.

Drawdown Indicators

	SKYU	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-83.01%	-57.50%	-25.51%
Max Drawdown (1Y) Largest decline over 1 year	-50.23%	-39.95%	-10.28%
Max Drawdown (3Y) Largest decline over 3 years	-55.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-83.01%	—	—
Current Drawdown Current decline from peak	-22.26%	-22.07%	-0.19%
Average Drawdown Average peak-to-trough decline	-49.16%	-25.41%	-23.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.88%	16.01%	+7.87%

Volatility

SKYU vs. NRGU - Volatility Comparison

The current volatility for ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) is 22.68%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 31.62%. This indicates that SKYU experiences smaller price fluctuations and is considered to be less risky than NRGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYU	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.68%	31.62%	-8.94%
Volatility (6M) Calculated over the trailing 6-month period	46.60%	61.19%	-14.59%
Volatility (1Y) Calculated over the trailing 1-year period	55.92%	75.02%	-19.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.88%	89.03%	-27.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.12%	89.03%	-27.91%

SKYU vs. NRGU - Expense Ratio Comparison

Both SKYU and NRGU have an expense ratio of 0.95%.

Dividends

SKYU vs. NRGU - Dividend Comparison

SKYU's dividend yield for the trailing twelve months is around 0.58%, while NRGU has not paid dividends to shareholders.

Position	TTM	2025	2024
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	0.00%	0.00%	0.00%
SKYU ProShares Ultra Nasdaq Cloud Computing ETF	0.58%	0.56%	0.21%

Frequently Asked Questions

Can I hold both SKYU and NRGU in my portfolio?

SKYU and NRGU have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKYU or NRGU?

NRGU has higher volatility (31.62%) compared to SKYU (22.68%). In terms of maximum drawdown, SKYU dropped -83.01% vs NRGU's -57.50%.

Which ETF is better, SKYU or NRGU?

On 1-year performance, NRGU leads with 171.19% vs 41.23% for SKYU. Both ETFs have the same 0.95% expense ratio. On volatility, SKYU has been the lower-risk option at 22.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYU or NRGU?

Over the 1-year period, NRGU has performed better with a 171.19% return vs 41.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYU or NRGU?

SKYU and NRGU have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, SKYU or NRGU?

SKYU has the higher dividend yield at 0.58%, compared with 0.00% for NRGU.

What is the main difference between SKYU and NRGU?

SKYU tracks ISE Cloud Computing Index (200%), while NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: ProShares and BMO.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (2.31 vs 0.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.